Punjab National Bank Joins PCAF to Strengthen Climate Action Commitments Introduction to PNB’s New InitiativePunjab National Bank (PNB), one of India’s leading public sector banks, has announced its membership in the Partnership for Carbon Accounting Financials (PCAF). This global initiative is aimed at improving the financial sector’s ability to measure and disclose greenhouse gas (GHG)…
DBS Bank India: Leading the Charge for Gender Equity Introduction to DBS Bank’s Gender Equity Initiatives DBS Bank India has taken significant strides in promoting gender equity within the workplace, setting a precedent for other organizations to follow. The bank’s commitment to fostering a diverse and inclusive environment reflects its understanding of the crucial role…
Slice Completes Merger with North East Small Finance Bank Overview of the Merger In a significant development in India’s financial landscape, Slice, a prominent fintech company, has successfully completed its merger with North East Small Finance Bank (NESFB). This merger, aimed at enhancing Slice’s banking capabilities, will allow the fintech firm to leverage NESFB’s extensive…
SBI Raises ₹50,000 Crore Through AT1 Bonds at 7.98% Overview of SBI’s Fundraising Initiative The State Bank of India (SBI), one of India’s largest public sector banks, has successfully raised ₹50,000 crore through Additional Tier 1 (AT1) bonds. These bonds were issued at an attractive coupon rate of 7.98%, aimed at bolstering the bank’s capital…
Bank of Baroda to Sell Oman Operations to Bank Dhofar Overview of the Deal Bank of Baroda (BoB), one of India’s leading public sector banks, has announced the sale of its operations in Oman to Bank Dhofar. This strategic move aligns with BoB’s focus on strengthening its balance sheet and optimizing its international operations. The…
PSU Banks Pay ₹6,481 Crore Dividend to Government for FY 2023-24 In the financial year 2023-24, Public Sector Undertaking (PSU) banks have contributed significantly to the government’s revenue by paying a substantial dividend amounting to ₹6,481 crore. This financial contribution highlights the robust performance and profitability of PSU banks, marking an essential development in the…
ATM Operators Push for Rs 2 Interchange Fee Hike Amid Viability Concerns In recent developments within the banking sector, ATM operators have been advocating for an increase in the interchange fee to Rs 2 per transaction. This move comes amidst growing concerns over the viability of operating ATMs, which have faced significant financial challenges in…
Bombay High Court Rules Against PSU Banks’ Power to Issue Look Out Circulars In a significant ruling, the Bombay High Court has recently decreed against the authority of Public Sector Undertaking (PSU) banks to issue Look Out Circulars (LOCs). The decision marks a pivotal moment in the realm of banking regulations, potentially reshaping the dynamics…
P Santhosh Takes the Helm as MD & CEO of NARCL Leadership Change at NARCL P Santhosh has been appointed as the new Managing Director and Chief Executive Officer (MD & CEO) of the National Asset Reconstruction Company Limited (NARCL). This significant appointment marks a new phase for NARCL, a key institution in the Indian…
RBI Conducts Massive Liquidity Infusion Through Variable Rate Repo Auctions The Reserve Bank of India (RBI) has undertaken significant measures to tackle the prevailing liquidity deficit in the banking sector by conducting a series of Variable Rate Repo (VRR) auctions. In May 2024, the RBI infused Rs 7.75 trillion through nine VRR auctions, with the…
